The association between COVID-19 and heart failure (HF) presents multifaceted challenges and implications for clinical management. This comprehensive review explores the epidemiological, clinical, and mechanistic associations between COVID-19 and HF, emphasizing the bidirectional impact of these conditions on patient outcomes. COVID-19 can precipitate or exacerbate HF through myocardial injury, inflammation, thrombosis, and immune dysregulation, while pre-existing HF increases the severity and complications of COVID-19. Diagnostic challenges arise from overlapping symptoms and the need to differentiate between COVID-19-related lung pathology and HF manifestations. Understanding the underlying pathophysiological mechanisms, including ACE2 dysregulation, cytokine release syndrome, and hypercoagulability, is crucial for optimizing management strategies. Early identification, multidisciplinary collaboration, personalized treatment, and patient education are essential to managing COVID-19 and HF. Insights from this review inform clinical practice, highlighting the importance of tailored interventions and ongoing research to mitigate the impact of these complex interactions on patient outcomes and public health initiatives.